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'Looking forward to meeting PM Modi': Elon Musk confirms his visit to India
Modi | Musk
In image PM Modi meeting Elon Musk in New York/ courtesy: PIB

'Looking forward to meeting PM Modi': Elon Musk confirms his visit to India

| @indiablooms | 11 Apr 2024, 12:06 am

Tesla chief Elon Musk Wednesday confirmed his visit to India and said he is looking forward to meeting Prime Minister Narendra Modi.

"Looking forward to meeting with Prime Minister @NarendraModi  in India!" Musk posted on the microblogging platform, which is also owned by him.

The Tesla CEO, however, did reveal details of the visit.

Reuters reported citing sources that Musk will meet Modi in New Delhi in the week starting on April 22 and separately announce his plans in India.

The Tesla chief will be accompanied by other high-level executives of the company, it said.

However, Musk’s final India trip agenda could change, according to the report.

Musk and Modi previously met in New York in June. Over the following months, Tesla actively tried to pursue India for India to reduce import duties on electric vehicles as the country contemplated establishing a factory.

India recently introduced a revised EV policy, slashing import tariffs from 100% to 15% for certain models, provided the manufacturer commits to investing a minimum of $500 million and sets up a manufacturing facility.

Reuters has earlier reported that Tesla representatives are expected to visit India this month to assess potential locations for a manufacturing facility, which would necessitate an investment of roughly $2 billion.

The report said that sources have revealed that Tesla has started the production of right-hand drive vehicles at its German plant with plans to export them to India later this year.

Musk remarked this week on X that "India should have electric cars like every other country has electric cars. It's a natural progression to provide Tesla electric vehicles in India".

Tesla's entry into the Indian market coincides with a slowdown in electric vehicle demand in its primary markets, namely the United States and China.

India's electric vehicle (EV) market is small but steadily growing. Indian auto major Tata Motors dominates the market at present.

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